SEPLAT was formed in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited to specifically pursue upstream oil and gas opportunities in Nigeria, and in particular divestment opportunities arising out of the incumbent Major IOC's portfolios. Seplat Energy trades on the London Stock Exchange (LON) under the ticker symbol "SEPL.". In their own names, insiders own UK8.1m worth of stock in the UK297m company. Join thousands of other investors who make better investing decisions with our premium tools. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. But to truly gain insight, we need to consider other information, too. With 14% and 9.0% of the shares outstanding respectively, Petrolin Group and Sustainable Capital Ltd are the second and third largest shareholders. Seplat ','+childNetworkId.trim():'';xmlhttp.open("GET", 'https://pubads.g.doubleclick.net/gampad/adx?iu=/147246189'+child+'/'+adunit+'&sz='+encodeURI(size)+'&t=Placement_type%3Dserving&'+Date.now(), true);xmlhttp.send();})(); !function(){var t="611a52ccd5cc7aa94a532b7d",e="widget_611a52ccd5cc7aa94a532b7d",a=document.createElement("script");a.type="text/javascript",a.setAttribute("data-cfasyn","false"),a.src="https://widget-cdn.ketshwa.com/m/p/611a52ccd5cc7aa94a532b7d/1256.js",a.async=!0,document.body.appendChild(a),a.onload=function(){KetshwaSDK.showWidget(t,e)}}(); Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |, Afrihealths Rigour+ aims to tackle medical brain drain, and counterfeit drugs in Nigeria with innovative healthcare solutions, Leaving the Tarmac: Buying a Bank in Africa shortlisted for BCA African Business Book of the Year, CBN pumps N701 billion back into circulation in March 2023 to ease cash at ATMs. I find it very interesting to look at who exactly owns a company. Receive SEPL Stock News and Ratings via Email. These include the orders that restrained the companys CEO Roger Brown from participating in the running of the Company. The boardroom drama has led to an implosion that has seen mass retirement and resignations from key board members involved in the debacle. By August 8, 2022, President Buhari had given his approval for Seplat to acquire MPNUs assets, citing the numerous benefits to Nigerias economy. OWNERSHIP 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. Net sales break down by family of products as follows: - natural gas (21.2%). At the end of 2020, the group operated 7 onshore blocks located in Nigeria. We project Seplat to be broadly FCF-neutral in 2021-2025. Copyright 2019, Securities & Exchange Commission, Nigeria. Overall Benefits Rating.css-11cfy92{color:#0caa41 !important;}.css-11cfy92{color:#0caa41 !important;}0. If you are like me, you may want to think about whether this company will grow or shrink. Seplat Cookies necessary to ensure the optimal functioning of our website. When such a trade goes wrong, multiple parties may compete to sell stock fast. To get a sense of who is truly in control of Seplat Energy Plc (LON:SEPL), it is important to understand the ownership structure of the business. Liquidity and Debt Structure. The company also reported a pre-tax profit of $86.1 million representing a 3.2% jump over the same period in 2022. It was reported that by mid-morning on February 25 after Seplats announcement of the sale and purchase agreement with MPNU, Seplats share price rose from 93 pence to 105.5 pence ($1.24 to $1.41) on the London Stock Exchange. To see all exchange delays and terms of use please see Barchart's disclaimer. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Seplat Energy Plc Insider Trading & Ownership Structure Fitch Upgrades Seplat to 'B'; Outlook Stable - Fitch Ratings Seplat, a Nigerian oil and gas company listed on the Nigerian Exchange (NGX) and the London Stock Exchange, is facing internal crises and legal battles stemming from changes in managerial structure and the delayed acquisition of Mobil Producing Nigeria Unlimited assets. With a market capitalization of UK297m, Seplat Petroleum Development is a small cap stock, so it might not be well known by many institutional investors. Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. View our latest analysis for Seplat Energy. The report said that most of the transactions occurred after Seplat was publicly listed in London and Lagos exchanges in 2014. The company was formerly known as Seplat Petroleum Development Company Plc and changed its name to Seplat Energy Plc in May 2021. xmlhttp = new XMLHttpRequest();xmlhttp.onreadystatechange = function(){if(xmlhttp.readyState==4 && xmlhttp.status==200){var es = document.querySelectorAll("[data-id='"+adunit+"']");var e = Array.from(es).filter(function(e) {return !e.hasAttribute("data-rendered")});if(e.length > 0){e.forEach(function(el){var iframe = el.contentWindow.document;iframe.open();iframe.write(xmlhttp.responseText);iframe.close();el.setAttribute('data-rendered', true)})}}};var child=childNetworkId.trim()? Of Seplat Petroleum Development Company Plc The investors who had purchased shares after the initial deal was struck and were worried about the flip-flopping of the Nigerian government. @media (min-width: 850px) { Maurel & Prom is an oil and gas exploration and production company listed on the regulated market of Euronext Paris.With a history of almost two centuries, Maurel & Prom has, both at its headquarters in Paris and in its subsidiaries, a solid technical expertise and a long operational experience, especially in Africa. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. As you can see, institutional investors have a fair amount of stake in Seplat Petroleum Development. The company can be reached via phone at +234-1-2770400. Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. Sources within the company mention that there are some aggrieved parties who may be working against the company to further their own agenda threatening to impact Seplats long-term success if they are not addressed. PT Pertamina (Persero) is currently the company's largest shareholder with 21% of shares outstanding. SEPLAT ENERGY PLC : Shareholders Board Members This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. Also submit photocopies of its CAC Forms CO2 and CO7. .uniq_1764707858073873 { A 30-year-old man is under police guard in hospital accused of stabbing a senior-constable who had been investigating reports of a disturbance.The incident unfolded on the street outside an address at Rothwell, north of Brisbane, just before 9. (function () { Kano State, Port-Harcourt The Securities and Exchange Commission, SECis a Government Agency Mandated to Regulate and Develop the Nigerian Capital Market, SEC Towers, They too, get it wrong sometimes. Donald Trump has requested a mistrial in a civil case where the writer E Jean Carroll is accusing him of rape and defamation, saying the judge made several "unfair and prejudicial" rulings against him.In an 18-page letter filed early Monday in Manhattan federal court, Trump's lawyer Joe Tacopina accused US District Judge Lewis Kaplan of being biased against the former US president, including in the jury's presence. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. Concerned about the content? Please log in to your account or sign up in order to add this asset to your watchlist. IRVING, Texas ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited to Seplat Energy, a Nigerian independent oil and gas company, through its wholly-owned subsidiary Seplat Energy Offshore Limited. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? Seplat Petroleum Development Company Salaries I generally consider insider ownership to be a good thing. Check out our latest analysis for Seplat Petroleum Development. Institutional investors commonly compare their own returns to the returns of a commonly followed index. Secure and increase the performance of your investments with our team of experts at your side. The deal would have seen a boost in Seplats production to 146,000 barrels of oil equivalent per day (boepd) and see its proven and probable liquids reserves jump from 241 million barrels to 650 million barrels. At the same time, Seplat filed a suit with No FHC/ABJ/CS/386/2023, at the Federal High Court Abuja, on March 21, 2023, accusing Dr. Orjiako of acting unilaterally when he communicated with the Federal Government over a business transaction worth over $300 million, allegedly without the consent of the companys Board of Directors. SEPLAT.NG | SEPLAT Energy PLC Company Profile View detailed SEPLAT.NG description & In order to improve our community experience, we are temporarily suspending article commenting. -, Ashoka WhiteOak holds IPO; Fox Marble agrees takeover, Naked Wines optimistic; Hotel Chocolat warns on sales, Visa, Work And Residence Permit In Nigeria- A Cursory Look At The SEPLAT Energy CEO'S Experience, Other Oil & Gas Exploration and Production, Sector Other Oil & Gas Exploration and Production, NEIMETH INTERNATIONAL PHARMACEUTICALS PLC, Chief Executive Officer & Executive Director, Chief Financial Officer & Executive Director, Chief Operating Officer & Executive Director, Senior Independent Non-Executive Director. Significant control over Seplat Energy by private companies implies that the general public has more power to influence management and governance-related decisions, A total of 4 investors have a majority stake in the company with 52% ownership, Institutional ownership in Seplat Energy is 11%. That's interesting, because hedge funds can be quite active and activist. Seplat Energy Plc says it is ready to move on from its challenges. }. Introduction to Ownership Structure The Group also holds a 20.46% stake in Seplat, one of Nigerias main operators that is listed on the stock exchanges of London and Lagos. Get short term trading ideas from the MarketBeat Idea Engine. Glassdoor provides our best prediction for total pay in today's job market, along with other types of pay like cash bonuses, stock bonuses, profit sharing, sales commissions, and tips. Strengthened Liquidity: Seplat had USD220 million of unrestricted cash at 30 September 2021. How much do Seplat Petroleum Development Company employees make? But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months. It seems that Private Companies own 33%, of the Seplat Petroleum Development stock. More cases of child neglect in South Australia have emerged a week after an extremely rare string of manslaughter charges were laid.Two women have been bailed to appear in an Adelaide court in June over the alleged criminal neglect of three children. SEPL has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company also engages in the renewable energy generation activities. Alternatively, email editorial-team@simplywallst.com. Seplat: Roger Brown Overhauls the Leadership, Runs with Four The company management answer to the board and the latter should represent the interests of shareholders. Investors | Seplat Energy Seplat reveals new shareholder with over 5% equity This represents a yield of 2.36%. Is the 149% Dividend for ZIM Integrated Shipping in Jeopardy? In line with its core mandate of investor protection, the Commission has sought and obtained explanations from Seplat through its Board of Directors and from the NGX,the primary exchange on which it is listed. It also benefits from a USD350 million undrawn RCF due in December 2023 and USD39 million availability under a committed USD50 million junior off-take credit facility due in 2027. They participate in particular in security, ergonomics and the choice of language of the website. The general public, with a 28% stake in the company, will not easily be ignored. WebAs you can see in the diagram, the ownership structure in this company have institutional shareholders with 65.05% of the company ownership, retail shareholders at 13.17%, sovereign wealth funds at 10.47%, foundations (or founder) at 5.20% and others at 6.11%. A Brothers 4 Life member chose by himself to sell ice while the gang's founder worked with the drug dealer to sell shoes and tap fittings, a NSW jury has heard.Bassam Hamzy is on trial in the Downing Centre District Court over allegations he sold methylamphetamine while incarcerated, giving directions through his lawyer Martin Churchill to gang members outside. Exposure to Nigerian Banks Reduced: As a general policy, the company usually retains around 70% of its total cash in US dollars and around 70% of the US dollar cash is held offshore. WebThe combined oil production of Seplat and Eland (as separate entities) in 2019 stood at 32,898 bopd and as per independent reserve assessments at 1 January 2020 the acquisition has increased Seplats 2P reserves and 2C resources base by 9.6% to 615 MMboe. Concerned about the content? var size='300x250', SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC: INVITATION The S&P; 500 and the Dow edged higher as JPMorgan shares rose after the lender said it will buy most of First Republic Bank's assets, while investors refrained from making big bets ahead of the Federal Reserve's policy decision this week.JPMorgan Chase & Co's shares rose 2. Private companies may also have a strategic interest in the company. Significant control over Seplat Energy by private companies implies that the general public has more power to influence management and governance-related Governance structure | Our governance | Our company | Seplat In other words, the group stands to gain the most (or lose the most) from their investment into the company. Stockholders of record on Wednesday, May 17th will be given a dividend of GBX 0.03 per share on Friday, June 16th. Major It might be worth looking deeper into this. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. SEPLAT AFL chief executive-elect Andrew Dillon says he prefers the traditional AFL grand final time of 2.30pm ahead of twilight or night options. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Meanwhile, ABC Orjiako responded by denying any wrongdoing in the letter he initiated to the Federal Government to facilitate the consummation of the lingering $1.3 million MPNU deal, saying he acted within the scope of his mandate for the benefit of the company. (844) 978-6257. width: 100vw; Our data indicates that hedge funds own 9.0% of Seplat Energy. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. On Tuesday, April 25, Seplat Energy Plc which is listed on both the Nigerian Exchange Limited and the London Stock Exchange, announced a Boardroom succession plan that will help the company move on from recent challenges and strengthen corporate governance. Our daily ratings and market update email newsletter. Seplat Energy Offshore Limited, a wholly owned Nigerian subsidiary of Seplat Energy Plc, has entered into a Sale and Purchase Agreement to acquire the entire share capital of MPNU for a purchase price of $1,283 million plus up to $300 million contingent consideration, subject to lockbox, working capital and other adjustments at The AFL admits its umpires erred in not awarding Nathan Murphy a free kick after he was clattered by Adelaide's Darcy Fogarty while failing to enforce the blood rule.Murphy was positioned under a high ball in the last quarter of the Magpies' thrilling win on Saturday when Fogarty crashed into him, front-on. But just like anyone else, they could be wrong. With a 30% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Seplat Energy. But to understand Seplat Petroleum Development better, we need to consider many other factors. Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. The ex-dividend date is Wednesday, May 17th. Seplat Energy (LON:SEPL) pays an annual dividend of GBX 8 per share and currently has a dividend yield of 8.15%. Port Harcourt Luckily, you can check this free report showing analyst forecasts for its future. You can see Seplat Energy's historic earnings and revenue below, but keep in mind there's always more to the story. As of March 2021, Seplats board led by Orjiako, announced that the company would eliminate all related-party transactions. Get in touch with us directly. Justice Yellin Bogoro of the Federal High Court had issued an interim order restraining Orjiako, and the two firms, as well as their proxies in Nigeria and any jurisdiction worldwide, from receiving and or transferring assets and accounts of Seplat Energy Plc. Off Adeola Odeku Street, Victoria Island SEC TOWERS, Plot 272, Samuel Adesujo Ademulegun Street, Central Business District P.M.B:315, Garki, Abuja +234 (0) 94621100; +234 (0) 94621168 Email: sec@sec.gov.ng. Net sales break down by Brisbane will be without veterans Dayne Zorko and Daniel Rich for their huge clash with Carlton, while Port Adelaide midfielder Xavier Duursma has been sidelined for up to 10 weeks with a knee injury.The Lions' big win over Fremantle came at a cost with Zorko straining his hamstring and Rich suffering a calf strain, with the pair sidelined for three weeks through injury. Shareholders were divided between looking for an exit strategy and staying on course until the company receives government approval for the MPNU acquisition. Inside Seplat's turbulent Board Room: Legal Battles, accusations SEPLAT Delayed London Stock Exchange Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. WebSEPLAT EAST ONSHORE LIMITED TENDER OPPORTUNITY: PROVISION OF PRODUCTION CHEMICALS (OML 53 JISIKE & OHAJI ONSHORE FIELDS) NipeX Tender Ref. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. A look at the shareholders of Seplat Petroleum Development Company Plc ( LON:SEPL) can tell us which group is most powerful. Read what they think about their salaries on our Compensation FAQ page for Seplat Petroleum Development Company. Meanwhile, individual investors make up 30% of the companys shareholders. Despite these challenges, Seplat reported higher revenue and pre-tax profits in the first quarter of 2023, and has announced a Boardroom succession plan to strengthen corporate governance and retire some board members. By continuing your browsing on this website, you agree to the use of cookies in order to optimize the functionality of the maureletprom.fr website through the production of anonymous and statistical data. A man is due to face a court over his alleged involvement in the execution-style murder of a Sydney underworld figure.Mahmoud Ahmad was killed in a spray of bullets fired from several cars as he stood outside a friend's house in April 2022. The company employs 528 workers across the globe. This shows at least some alignment. Overview 50 Reviews 1 Jobs 25 Salaries 9 Interviews 22 Benefits 4 Photos 17 Diversity Follow + Add a Salary What are your colleagues talking about? 27 Apr 2023 21:46:07 Read what they think about their salaries on our Compensation FAQ page for , Summer Legal salaries - 3 salaries reported, Project Engineer salaries - 1 salaries reported, Budget Manager salaries - 1 salaries reported, HSE Specialist salaries - 1 salaries reported, Graduate Engineer salaries - 1 salaries reported, Electrical Engineering salaries - 1 salaries reported, Administrative Assistant salaries - 1 salaries reported, Piping Engineer salaries - 1 salaries reported, Joint Venture Planning and Cost Engineer salaries - 1 salaries reported, Internship salaries - 1 salaries reported, Graduate Trainee salaries - 1 salaries reported, Lead Cost Estimator salaries - 1 salaries reported, Warehousing, Rigging & Material Handling salaries - 1 salaries reported, Senior Metering Engineer salaries - 1 salaries reported, Mechanical Engineer salaries - 1 salaries reported, Operations salaries - 1 salaries reported, Contractor salaries - 1 salaries reported, Reservoir Engineer salaries - 1 salaries reported, Business Management Graduate Scheme salaries - 1 salaries reported. Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. This risk is higher in a company without a history of growth. Management ultimately answers to the board. This announcement was made after a Federal High Court in Lagos issued a Mareva Injunction restraining ABC Orjiako, and other firms linked to him, from accessing the accounts and assets of Seplat Energy Plc. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Is United Airlines Playing a Game of Limbo with Its Guidance? Alex de Minaur has been beaten by qualifier Aslan Karatsev in the Madrid Open.19 went down 6-3 4-6 6-4 to the Russian, who is ranked 101 places below him, but is a former top-20 player. In other words, these shareholders have a meaningful say in the decisions of the company. By April 2023, Nairametrics reported that the Nigerian Immigration Service dropped all charges against Seplat. Fiji's former-attorney general Aiyaz Sayed-Khaiyum, who is also general secretary of the Pacific island nation's main opposition party Fiji First, has been taken into custody after being charged with abuse of office, local media reports.The criminal charge was approved on Monday by the Office of the Director of Public Prosecution and relates to a complaint by an election official, FBC News reported. Case in point: We've spotted 2 warning signs for Seplat Energy you should be aware of. Liquidity and Debt Structure. During the period highlighted, Seplat paid $410 million to companies associated with Orjiako and $299 million to companies associated with Avuru, according to the companys annual reports. The Group also holds a 20.46% stake in Seplat, one of Nigerias main operators that is listed on the stock exchanges of London and Lagos.Maurel & Prom also has financial support from its majority shareholder, the Indonesian national oil company Pertamina. WebCurrently, Roger Thompson Brown is Chief Executive Officer & Executive Director at Seplat Energy Plc. The Commission will continue to work with the Board of Seplat to monitor the situation and take effective measures to preserve the integrity and transparency of the capital market. click here to see if those insiders have been buying or selling. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: Seplat Energy announced a dividend on Thursday, April 27th. According to sources familiar with the matter, Seplat has also been wading into controversy over corporate governance issues. P.M.B:12638 Marina Its worth noting that neither Seplat Energy nor Seplat Energy Offshore Limited was involved in the lawsuit. CLAIMS OVER OWNERSHIP OF SEPLAT THISDAYLIVE Who are the major shareholders and have insiders been buying or selling? See what's happening in the market right now with MarketBeat's real-time news feed. All rights reserved. However, on some occasions too much power is concentrated within this group. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. Seplat Petroleum Development Company Is this your company? This shows at least some alignment. We can report that insiders do own shares in Seplat Energy Plc. In their own names, insiders own UK17m worth of stock in the UK584m company. This shows at least some alignment. You can click here to see if those insiders have been buying or selling. After ABC Orjiako stepped down as Board Chairman at Seplat, the company had a consultancy arrangement with him, which obliged him to provide defined assistance to certain external stakeholders.